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MAS overhauls benchmarking practices

Joel Clark

14 June 2013

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The Monetary Authority of Singapore (MAS) is to implement a new regulatory framework for financial benchmarks that will enhance the integrity of the process, the regulator announced today.
The overhaul comes after the MAS conducted a year-long review of benchmark submissions and found deficiencies in the governance, risk management, internal controls and surveillance systems of 20 banks.
"A total...